During his significant state visit to the United States, Prime Minister Narendra Modi held a meeting with Sanjay Mehrotra, the CEO of Micron Technology, on Wednesday. The purpose of the meeting was for Modi to extend an invitation to the American chip maker to establish semiconductor manufacturing operations in India. The meeting took place in Washington DC, as stated by the Prime Minister’s Office.
According to the PMO’s statement, “Prime Minister Shri Narendra Modi met Sanjay Mehrotra, CEO of Micron Technology, on 21 June 2023 in Washington DC. The Prime Minister invited Micron Technology to boost semiconductor manufacturing in India, highlighting India’s competitive advantages in various segments of the semiconductor supply chain.”
This meeting between PM Modi and Mehrotra occurred shortly after the Union Cabinet approved Micron’s investment plan of Rs 22,500 crore for a new semiconductor testing and packaging facility in India.
Furthermore, PM Modi also had a meeting with Gary E Dickerson, the President and CEO of Applied Materials, during which he extended an invitation to develop process technology and advanced packaging capabilities in India.
To promote India as an attractive investment destination for global semiconductor companies, the Central government has introduced a production-linked incentive (PLI) scheme.
The Indian government has already approved production-linked incentives worth more than Rs 10,000 crore for Micron’s upcoming plant, which is anticipated to create numerous job opportunities. Micron Technology is a prominent chip manufacturer based in the United States.
Micron recently became embroiled in a heated dispute over chip technology between the United States and China.
Last month, Beijing accused Micron Technology of failing its network security review and prohibited operators of essential infrastructure from purchasing the company’s products.
India aims to enhance its domestic chip sector and establish itself as a significant player in the semiconductor industry.
Moreover, the administration of US President Joe Biden is actively encouraging American chipmakers to reduce their reliance on China.
The manufacturing of semiconductors holds strategic importance as it is a vital component that powers various devices, ranging from refrigerators to smartphones.
